Four commercial parcels, including two restaurants, an office and parking lot overshadowed by nearby condos and office buildings in downtown Bellevue, sold to an investor group for $31 million on Monday, according to King County records.
The county’s appraised value for the four parcels, at 435 to 527 108th Avenue N.E., is just under $14 million.
The area is in walking distance of the Bellevue transit center.
NIU Enterprises II, a Bellevue-based entity formed in early April, bought the parcels from I.M. Plaza, a Medina partnership controlled by Sue and Milton Walter. The Walters acquired the parcels between 1984 and 1986 for just over $3.1 million, records show.
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Sanjay Bhatt: 206-464-3103 or firstname.lastname@example.org On Twitter @sbhatt